Singaporean venture capital firm Golden Gate Ventures closed its second early stage fund, at $60M.
The fund was oversubscribed by $10 million, after initially targeting a size of USD $50 million. Investors included Temasek, a European-based media conglomerate, Korean Hanwha Life Insurance and Thi Siam Commercial Bank.
Led by Vinnie Lauria, Managing Partner, Golden Gate Ventures will continue to focus on investing in early stage startups across Southeast Asia, which has seen the emergence of its own unicorns, including Singapore-based gaming company Garena, transportation platform Grab, and Rocket Internet’s e-commerce company Lazada.
Since 2011, the firm has invested in over 25 companies across more than 7 countries in Asia with a focus on internet & mobile startups across such e-commerce, payments, marketplaces, mobile applications, and SaaS platforms.
The team also includes Jeffrey Paine, Paul Bragiel and Michael Lints.